Richard Heart, founder of HEX and PulseChain, was reportedly detained with his wife in Istanbul's Beşiktaş district on October 14, according to İhlas News Agency. The detention was linked to an Interpol Red Notice requested by Finland.
Heart, whose legal name is Richard James Schueler, and his wife were taken into custody at an address police had been monitoring. Istanbul police's intelligence and financial-crimes units carried out the operation with support from Turkey's National Intelligence Organization.
Finnish police have suspected Schueler of gross tax evasion and assault dating back to 2024. He was remanded in custody in absentia on September 13, 2024, without being present in Finland.
According to reports of the police operation, authorities seized cash, gold jewelry, watches, and electronic devices. The seizures also included firearms and currency in U.S. dollars, euros, and Turkish lira. These were reported search findings and do not establish whether the seized property relates to any offense.
An Interpol Red Notice requests provisional arrest while countries decide how to proceed under their own laws. A Red Notice does not function as an international arrest warrant, and individuals sought remain presumed innocent.
Heart previously faced a separate civil securities lawsuit in the United States. The SEC alleged in July 2023 that Heart, HEX, PulseChain, and PulseX conducted unregistered cryptocurrency offerings raising over $1 billion, and that Heart and PulseChain diverted at least $12 million for luxury purchases. A U.S. District Court judge granted dismissal of the SEC case on February 28, 2025, citing deficiencies in personal jurisdiction and pleaded transactions. The dismissal did not address the Finnish allegations.
According to reports, the investigation concerning Schueler and his wife was continuing.
